Philips Lighting Q1 earnings beat on small sales decline

Pleased with improvement in company's growth profile: Philips Lighting CEO

Philips Lighting, the world's biggest lighting maker, on Friday reported a 17 percent increase in first-quarter core earnings, beating expectations on strength in Europe that led to rising LED
sales that offset declining sales of traditional bulbs.

Adjusted earnings before interest, taxes, and amortization (EBITA) were 142 million euros ($152.18 million) from 121 million in the same period a year earlier. Sales fell 0.7 percent to 1.69 billion euros.

Analysts polled for Reuters had seen sales down 2 percent and EBITA at 136 million euros.